Topic: Why FOMO isn't as bad as people make it seem. - page 4. (Read 526 times)
all must have their own risk i think if you want to play at a safe point then I think you better invest in GOLD
copper member
Activity: 2800
Merit: 1179
Leading Crypto Sports Betting & Casino Platform
How FOMO(Fear Of Missing Out) related on the content of this thread. You will FOMO when you see a certain currency pump and FUD when the price dump. If you know Technical analysis, You can easily determine whether the current price is already at the bottom or not, well you can't buy at the exact bottom price because its very hard to determine but you can enter a position that close to the bottom.
The reason why newbie traders got trapped on a fake out is because they didn't know how to use indicators that can help them to determine the range of how far it can go down. Normally they buy when they a long red candle without considering the volume and charts on the long time frame.
The reason why newbie traders got trapped on a fake out is because they didn't know how to use indicators that can help them to determine the range of how far it can go down. Normally they buy when they a long red candle without considering the volume and charts on the long time frame.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up.
I disagree with this because you could definitely always buy at the bottom and sell it at the top but the challenge is when you will buy it. This should already be a common rule for everyone. If you check all the charts of the coins, there would always be a lower low and a higher high. What you would do as a trader is when you are going to trade, what indicators tell you to trade, limit positions, limit risks, and many more. It's not going to always be about FOMO, it's about being smart with what you are trading. 
Well, that is not wrong. FOMO still can makes you gain profit indeed, but the profit usually comes from the loss of late buyer. 
When the FOMO ends, people who bought late will unable to sell it higher than they buying price, this is of course what we don't want at all.
My conclusion is, FOMO is good for early buyer, but it is bad for late buyer.
When the FOMO ends, people who bought late will unable to sell it higher than they buying price, this is of course what we don't want at all.
My conclusion is, FOMO is good for early buyer, but it is bad for late buyer.
I will like to make a contribution about the topic, FOMO isn't actually bad if the project is a high quality one, there will always be a room for more growth, but it's also better to get in real quick and judge from the exact ICO or IEO price, I remember DIA, I got in at 2.33$ when the bull started and it keeps surging, i sold at 4$ each and wait for price dump, always expect price dump from any new altcoin no matter how strong they seem, price will surely dump, take your profit and wait to see what happens
FOMO isn't that bad simply because it can leads you to be in profits sometimes but not every time so its more like how early you enter into the ship and exit at the perfect time before it gets drowned.But there is no other reasons to call it as good, and even you are manipulated so don't become someone who make decision for other's profits.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
This is quite too far from the title. I was expecting that you explain why FOMO isn't that bad and yet I just read that you are advising people to buy low and sell high. As the way I see it, FOMO is really bad because it takes away our sense of reasoning and most people that fall into FOMO often at the losing end. The problem with buying at the bottom and selling at the top is that we never know when that will happen. Even people that is so brilliant with TA cannot predict precisely the bottom and the top of the trade.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
This definition has called a "catching a falling knife" by traders and pro traders know the right time to accept the loss. Cutting the loss is the job of an experienced trader, only new traders prefer to HODL until the market colour turns to be green. There is no formula to find the bottom or tops, we just make guesses and if the majority of guesses are correct then the profit will follow. Catching a falling knife will hurt the hand of inexperienced traders because they don't have gloves aka stop orders but pro traders can repeat this well-planned money management for getting the higher profit from the mentioned type of sentimental trades.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
Jump to: